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Clariant to slash 600 jobs as profit plunges, outlook dims

Friday, February 14, 2020, 7:54 AM

Clariant is cutting up to 600-jobs after 2019 profit plunged, as the Swiss speciality chemicals maker braces for a sluggish economic environment and adverse foreign-exchange conditions this year, it said. Its shares were indicated about 1% higher before the market open, with the Muttenz-based company forecasting the job reductions over two years would reduce costs by 50-million Swiss francs ($51-million) annually and boost profitability.